Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Easy Fractal Breakout Strategy 115 replies

KISS FX Breakout Strategy 37 replies

New Variation on 7 am to 9 am Breakout Strategy 164 replies

Breakout Strategy - The Pro's Way 173 replies

Help: EA for 1-2-3 Formation Breakout Strategy 1 reply

Attachments: M5 BB Breakout Strategy
Exit Attachments

M5 BB Breakout Strategy

  • Post #1
  • Quote
  • First Post: Edited Mar 4, 2024 2:42pm Feb 26, 2024 12:12pm | Edited Mar 4, 2024 2:42pm
BB Breakout Strategy

TimeFrame: M5
Indicators:
Bollinger Band: Period: 96, Deviations: 2.0, Apply to Close
RSI: Period 9, Apply to Close
Volumes


Buy Conditions:
First, we need to wait for the price to break the upper band, the price can be greater than or equal to the band.
Second, we need to check if there is a momentum by using RSI, the RSI should be greater than or equal to 70.
Third, we need to check if there is a volume on that breakout. Volume should be greater than average volume.

If these three conditions are present we go Long. R:R should be 1:3, and stoploss should be set below the latest swing low.

Sell Conditions
First, we need to wait for the price to break the lower band, the price can be lower than or equal to the band.
Second, we need to check if there is a momentum by using RSI, the RSI should be lower than or equal to 30.
Third, we need to check if there is a volume on that breakout. Volume should be greater than average volume.

If these three conditions are present we go Short. R:R should 1:3, and stoploss should be set above the latest swing high.

Side Notes: BicsOut indicator helps filter out most of the bad trades, and equip with alerts and notifications, if you are planning on using it on many pairs, kindly limit the Bars to minimum because the function inside the indicator is always looping and causing issues or slowing down your mt4, or use it only on your favorite pairs.


- You can find the latest version of the Expert Adviser here: *click me*
- The instructions for installation are here on this post: *click me*


Other resources used:
Attached File(s)
File Type: ex4 VolMa.ex4   14 KB | 318 downloads
Attached File(s)
File Type: ex4 LWTI.ex4   8 KB | 328 downloads

Attached File(s)
File Type: ex4 BicsOut.ex4   89 KB | 243 downloads | Uploaded Feb 28, 2024 11:39am
Attached File(s)
File Type: tpl template.tpl   2 KB | 328 downloads


Sample Entries:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYSample1.png Size: 44 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 42 KB


Restrictions during Consolidating Market
Attached Image (click to enlarge)
Click to Enlarge Name: SampleFail1.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: SampleFail2.png Size: 49 KB
Attached File(s)
File Type: rar BicsOut EA.rar   176 KB | 155 downloads | Uploaded Mar 3, 2024 4:13am
J.A.R.V.I.S. press the BUY button.
Post Your Results!
J.A.R.V.I.S. press the BUY button.
results aren’t great.. about 50% of the time price just bounces. Also the rsi is too sensitive and seems to be redundant as it’s always os or ob when reaching bands.
from a quick look, seems like a low win rate but with 1:3 guess anything is possible.
Quoting MachineLearn
results aren’t great.. about 50% of the time price just bounces. Also the rsi is too sensitive and seems to be redundant as it’s always os or ob when reaching bands. from a quick look, seems like a low win rate but with 1:3 guess anything is possible.
Thanks for the feedback!
J.A.R.V.I.S. press the BUY button.
Hello Dear.
working great on currencies. what is the objective of larry large trade index indicator?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 32 KB
Quoting saali1977
Hello Dear. working great on currencies. what is the objective of larry large trade index indicator? {image}
LWTI can be used as a substitute for RSI, if LWTI is above ZERO LINE, it is considered as bullish, and if it is below ZERO LINE, it is considered as bearish.
J.A.R.V.I.S. press the BUY button.
Daily Report No.1:

EA took this trade based on the conditions above, with only stoploss(100pips) and takeprofits(300pips), no profit locks.
Attached Image (click to enlarge)
Click to Enlarge Name: N#1.PNG Size: 14 KB
J.A.R.V.I.S. press the BUY button.
Hi BIC

First of all, thank you for sharing. I am currently trying your system out, I like it so far.

Secondly, I was wondering if anyone is having any issues with the BicsOut indicator, it appears to stop working and slowing down the trading platform.
Thanks
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
Quoting Ezzy
Hi BIC First of all, thank you for sharing. I am currently trying your system out, I like it so far. Secondly, I was wondering if anyone is having any issues with the BicsOut indicator, it appears to stop working and slowing down the trading platform. Thanks Ezzy
Hi, the issue can be resolve be lowering the Bar Limits, if your using it on multi currencies, let's say more than 10 or more, it can cause some slowing issues, it is because of the looping inside the program. I am currently looking for a way to minimised the lagging issues. Further more, please used it on your favorite pairs only for now.
J.A.R.V.I.S. press the BUY button.
Quoting BIC
{quote} Hi, the issue can be resolve be lowering the Bar Limits, if your using it on multi currencies, let's say more than 10 or more, it can cause some slowing issues, it is because of the looping inside the program. I am currently looking for a way to minimised the lagging issues. Further more, please used it on your favorite pairs only for now.
Thanks BIC
What you do is a reflection of you....what I do is a reflection of me.
Daily Report No.2
Attached Image (click to enlarge)
Click to Enlarge Name: N#2.PNG Size: 59 KB
J.A.R.V.I.S. press the BUY button.
Quoting BIC
Daily Report No.2 {image}
Win rate seems very solid for a 1:3 RR huh? What’s the catch
  • Post #13
  • Quote
  • Edited 11:57am Feb 28, 2024 11:42am | Edited 11:57am
I uploaded a new version of BicsOut indicator that fixes the lagging issues.
Attached File(s)
File Type: ex4 BicsOut.ex4   89 KB | 212 downloads
J.A.R.V.I.S. press the BUY button.
Quoting BIC
Daily Report No.2 {image}
What time of day do you usually trade?
Tks
Quoting Tuatuanlq
{quote} What time of day do you usually trade? Tks
Pre London, and NY opening.
J.A.R.V.I.S. press the BUY button.
Dear Sir, Did u design EA on the bases of the strategy , if yes please share if possible otherwise i try to design it using mql4.
The other thing is good for this strategy is that it prohibit over trading. nice work sir. Thanks
Quoting saali1977
Dear Sir, Did u design EA on the bases of the strategy , if yes please share if possible otherwise i try to design it using mql4. The other thing is good for this strategy is that it prohibit over trading. nice work sir. Thanks
Yes, it is following each of the rules mention above. For the ea, I can't share it for now. I am only using it for testing purposes.
J.A.R.V.I.S. press the BUY button.
Daily Report No.3
Attached Image (click to enlarge)
Click to Enlarge Name: N#3.PNG Size: 32 KB
J.A.R.V.I.S. press the BUY button.
Quoting BIC
Daily Report No.3 {image}
Why dont you combine the bollinger bands with Keltner channel for better signals and maybe in combination with a momentum indicator. RSI is cool but you might be amazed what the solar wind joy indicator is capable of doing too on this strategy.

Old school techniques using indicators don't fade out too quickly and sometimes they are brand as new. Just tweak it a bit wit with some today's indis.

Came across an article that said, tight squeeze (BB bands within the Keltner channel), candle breakout of BB bands + K. channel. At close of candle enter trade in the direction of breakout. Close trade after the close of 7 candles. It works! But nothing works 100% of the time.
Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!
Quoting pipibrasci
{quote} Why dont you combine the bollinger bands with Keltner channel for better signals and maybe in combination with a momentum indicator. RSI is cool but you might be amazed what the solar wind joy indicator is capable of doing too on this strategy. Old school techniques using indicators don't fade out too quickly and sometimes they are brand as new. Just tweak it a bit wit with some today's indis. Came across an article that said, tight squeeze (BB bands within the Keltner channel), candle breakout of BB bands + K. channel. At close of candle...
Thanks for the suggestions, I'll take note bout this one.
J.A.R.V.I.S. press the BUY button.
0 traders viewing now